Infrastructure · Review
ActiveOMeT Review 2026: Cleared OTC Swap Trading
OMeT is an electronic venue for institutional cleared OTC swaps, using anonymous, rules-based execution and integrated clearing workflows. Its protocol and data tools are clearly described, but fees, regulatory status and independent security reviews are not published.
By the DappsAtlas editorial team · Updated
DappsAtlas score
6.0/10
Mixed
Our verdict on Omet
6.0/10OMeT is aimed at institutional participants seeking electronic execution for cleared OTC swaps, not retail traders. Its main strength is a defined anonymous, three-phase protocol that links execution with credit checks, clearing workflows and structured activity records. The main caveat is the limited disclosure around practical access: fees, onboarding criteria, regulatory status and named CCPs are not published. Institutions should confirm these points, along with the applicable legal and clearing arrangements, before relying on the venue.
Score breakdown
How Omet scores
- Security
- n/a
- Ease of use
- 5.0/10
- Fees
- n/a
- Features
- 7.0/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Omet?
OMeT is institutional market infrastructure for cleared OTC swaps. Its OMeT-X venue uses eMOD, a three-phase protocol for quote requests, live orders and matching at a system-generated mid. The company says it is starting with the Mexican peso F-TIIE swap market.
The service also combines execution records with clearing workflows and an intelligence layer. OMeT says its tools can support analytics, benchmarking and decision-making based on trading activity. Fees, detailed access requirements, regulatory status and named clearing counterparties are not published.
How Omet works
OMeT-X is described as an electronic venue for cleared OTC swaps. Its eMOD protocol divides a trading session into three phases: participants first submit requests for quotes in the Open Request Phase, then submit live orders in the Open Market Phase, and can submit orders at a system-generated mid for matching in the Open Mid Match Phase. OMeT says the process is anonymous and rules-based, with orders ranked by price and time.
The venue also aims to connect execution with clearing workflows. OMeT describes pre-order credit validation, dynamic limit checks and integration with CCPs for trade acceptance. After a trading phase, the Intelligence Waterfall presents workflow events and results; OMeT-i is intended to use this activity for analytics and decision support. OMeT says the initial market is Mexican peso F-TIIE swaps.
6 features
Key features
01
Three-phase execution
The eMOD protocol organizes trading into Open Request, Open Market and Open Mid Match phases, each with a different role in price discovery and execution.
02
Anonymous interaction
OMeT says participants interact anonymously, with identity, order quantity and directionality not disclosed during price formation.
03
Rules-based matching
The venue is designed for all-to-all participation, with orders ranked by price and time rather than restricted to bilateral relationships.
04
Credit and clearing workflow
OMeT describes dynamic limit checks for eligible orders and integration with CCPs for trade acceptance.
05
Execution activity records
The Intelligence Waterfall shows execution activity, including workflow events, timing, state changes and results.
06
Market intelligence tools
OMeT-i is presented as a data service layer that uses trading activity for analytics, benchmarking and decision support.
Pros and cons
What we like
- A defined three-phase protocol makes the intended execution process easier to understand.
- Anonymous interaction is designed to limit disclosure of trading intent during price formation.
- All-to-all participation and price/time ranking are intended to support competition across eligible participants.
- Pre-order credit checks and CCP integration are designed to connect execution with clearing.
- The Intelligence Waterfall captures workflow events as well as final trade outcomes.
Watch out for
- OMeT does not publish fees or detailed participant onboarding requirements.
- The platform's regulatory status and the jurisdictions in which it operates are not stated.
- The clearing counterparties are described as central counterparties (CCPs), but none are identified by name.
- The eMOD protocol is described as patent-pending; independent audits and security assessments are not published.
- Access appears aimed at eligible institutional participants, so it may not suit retail traders.
Omet fees
OMeT does not publish its fees. Prospective participants should confirm pricing and any other trading costs directly with OMeT during onboarding.
Is Omet safe?
OMeT describes a rules-based venue with credit checks and clearing workflows, but independent audits or security assessments are not published. Its site describes eMOD as patent-pending; it does not establish whether the venue uses blockchain or smart contracts.
Trading cleared OTC derivatives still involves market, operational and counterparty risks. OMeT does not name its CCP integrations or publish its regulatory status and operating jurisdictions, so institutions should verify these details and the applicable legal and clearing arrangements before participating.
5 steps
How to get started with Omet
- 1
Review OMeT's information about its cleared swaps venue and eMOD execution phases.
- 2
Contact OMeT to confirm whether your organization and intended trading activity are eligible.
- 3
Ask for current onboarding requirements, supported instruments, jurisdictions and fees.
- 4
Confirm the applicable credit checks and clearing arrangements before seeking access.
- 5
Use the OMeT login and follow the access instructions provided to your organization.
Who Omet is for
OMeT is designed for institutional participants trading cleared OTC derivatives who want a structured alternative to voice-led or bilateral workflows. It may be relevant to firms interested in anonymous execution and data on how trades form, but prospective users should first verify eligibility, fees, regulatory coverage and clearing arrangements.
Omet FAQs
What is OMeT?
OMeT describes itself as an exchange environment for cleared OTC swaps. It is designed for institutional participants rather than retail crypto trading.
How does OMeT's eMOD protocol work?
eMOD is OMeT's three-phase execution protocol: Open Request Phase, Open Market Phase and Open Mid Match Phase. It structures quote requests, live orders and orders submitted at a system-generated mid for matching.
Which markets does OMeT support?
OMeT says it is beginning with the Mexican peso F-TIIE swap market. The site does not list a broader set of supported instruments.
What fees does OMeT charge?
OMeT does not publish its fees. Prospective participants should confirm pricing and any other trading costs with OMeT during onboarding.
Who can use OMeT?
OMeT's site describes participation as limited to eligible participants and mentions pre-order credit validation, but does not publish detailed eligibility or onboarding rules. Contact OMeT to confirm whether your organization can participate.
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How we checked
Sources
No public sources were recorded for this review.
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